Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Town
Rural zone
Total
Dhaka
162
82
244
Chittagong
100
88
188
Rajshahi
80
131
211
Sylhet
22
36
58
Khulna
75
71
146
Overseas
Total
443
408
851
City
No of Branch
Status
01.
Abu Dhabi
01
Foreign
02.
Al-Ain
01
Foreign
03.
Sharjah
01
Foreign
04.
Dubai
01
Foreign
Total
04
Import
b)
Export and
c)
Foreign remittance
The importer after receiving the proforma invoices from the exporter, by applying
for the issue of documentary credit, the importer requests his/her bank to make
a promise of payment to the supplier. Obviously, the bank will only agree to this
request if it can rely on reimbursement by the applicant. As a rule accepted as
the sole security for the credit particularly if they are not the shorts of
commodity that can be traded on an organized market, such an agreement
would involve the bank in excessive risk outside its specialized field. The
applicant must therefore have adequate fund in the bank account or a credit
line sufficient to cover the required amount.
Banks deals with documents and not goods. Once the bank has issued the credit
its obligation to pay is conditional on the presentation of the stipulated
documents within the prescribed time limit. The applicant cannot prevent a
bank from honoring the documents on the grounds that the beneficiary has not
delivered goods.
The importer submit the following documents with the application for
opening the L/C
The bank will supply the following documents before opening the L/C
LCA form
IMP form
The above documents/papers must be completed duly signed and filled by the
parties according to the instruction of the concern banker.
After scrutinizing above-mentioned documents carefully, bank delivers the
following forms to be filled up by importer and banker then check it carefully:
Whether the goods to be imported is permissible or not.
Whether the goods to be imported is demanding or not.
L/C Application Form (L/CAF)
L/C Application Form is a sort of an agreement between customer and bank on the
basis of which letter of credit is opened. Bank provides a printed form for
opening of L/C to the importer. A special adhesive stamp of value Tk.200 is
affixed on the form in accordance with Stamp Act currently in force. While
opening, the stamps are cancelled. Usually the importer expresses his decision
to open the L/C quoting the amount of margin in percentage. Usually the
importer gives the following information
CCI&E. The LCA Forms available with authorized dealers are issued in set of five
(05) copies each. First Copy is exchange control copy, which is used for opening
of LC and effecting remittance. Second Copy is the custom purpose copy, which
is used for clearance of imported goods from custom authority. Triplicate and
Quadruplicate Copy of LCAF are to be sent to concerned area of CCI&E office by
authorized dealer/Registration Unit of Bangladesh Bank. Quintuplicate Copy is
kept as office copy by authorized dealer/Registration Unit. The Letter of Credit
Authorization Form (LCAF) contains the followings
Name and address of the importer
IRC no. and year of renewal
Amount of L/C applied for (both in figure and in word)
Description of item(s) to be imported
HS Code No.
Signature of the importer with seal
List of goods to be imported
There are usually two banks involved in a documentary credit operation. The
issuing bank and the 2nd bank, the advising bank, is usually a bank in the
sellers country. The issuing bank asks another bank to advise or confirm the
credit.
If the 2nd bank is simply advising the credit, it will mention that when it forwards
the credit to seller, such a bank is under no commitment or obligation to pay
the seller.
If the advising bank is also confirming the credit, this mention that the
confirming bank, regardless of any other consideration, must pay accept or
negotiate without recourse to seller. Then the bank is called confirming bank
also.
As soon as the seller/exporter receives the credit and is satisfied that he can meet
its terms and conditions, he is in a position to load the goods and dispatch
them. The seller then sends the documents evidencing the shipment to the
bank.
Exporter will submit those documents in accordance with the terms and conditions
as mentioned in L/C. Generally the documents observed by the foreign
exchange department are:
Bill of exchange
Commercial invoice
The negotiating bank carefully checks the documents provided by the exporter
against the credit, and if the documents meet all the requirement of the credit,
the bank will pay, accept, or negotiate in accordance with the terms and
conditions of the credit. Then the bank sends the documents to the L/C opening
bank.
The L/C issuing bank getting the documents checks immediately and if they are in
order and meet the credit requirements; it will arrange to make payment
against L/C through reimbursement bank and will send the importer the
document arrival notice.
Securities of L/C
Janata Bank Limited respective officials scrutinize the application in the following
mannera) The terms and conditions of the L/C must be complied with UCPDC 500
and Exchange Control & Import Trade Regulation Act.1947.
b) Eligibility of the goods to be imported.
c) The L/C must not be opened in favor of the importer.
d) Radioactivity report in case of food item.
e) Survey report or certificate in case of old machinery
f) Carrying vessel is not of Israel.
g) Certificate declaring that the item is operation not more than 5 years in case of
car.
Export
Janata Bank Limited exports a large quantity of goods and services to many
countries. Readymade textile garments (both knitted and woven), Jute, Jutemade products, frozen shrimps, tea, hide and skin, vegetables are the main
order, Janata Bank Limited purchases (negotiates) the same on the basis of
banker- customer relationship. This is known as Foreign Documentary Bill
Purchase (FDBP).If the bank is not satisfied with the documents submitted to
Janata Bank Limited and gives the exporter reasonable time to remove the
discrepancies or sends the documents to L/C opening bank for collection. This
is known as Foreign Documentary Bill for Collection (FDBC).
Settlement of Local Bills:
The settlement of local bills is done in the following ways,
The customer submits the L/C to Janata Bank Limited along with the
documents to negotiate
The L/C issuing banks gives the acceptance and forwards an acceptance
letter.
Import
Import means purchase of goods or services from abroad. Normally consumers,
firms and Government organizations import foreign goods or services to meet
their various necessities. Main import items are food item, edible oil, fertilizer,
petroleum, machineries, chemicals, raw materials of industry, cement clinkers
etc. So, in brief, we can say that import is the flow of goods and services
purchased by local agent staying in the country from foreign agent staying
abroad.
Import procedure
Authorized Dealer, banks are always committed to facilitate import of different
goods into Bangladesh from the foreign countries. Import Section, which is
under Foreign Exchange Department of a bank, is assigned to perform this job.
And to serve its parties demand to import goods, it always maintains required
formalities that are collectively termed as Import Procedure.
i)
At first, the importer must obtain Import Registration Certificate (IRC) from
the CCI&E submitting the following papers:
ii)
Then the importer has to contact with the seller outside the country to obtain
the Proforma Invoice. Usually an indenter, local agent of the seller or foreign
agent of the buyer makes this communication. Beside these other sources
are:
Trade fair.
Chamber of Commerce.
Journals etc.
iii) When the importer accepts the Proforma Invoice, he/she makes a purchase
contract with the exporter detailing the terms and conditions of the import.
iv) After making the purchase contract, importer settles the means of payment
with the seller. An import procedure differs with different means of payment.
The possible means are Cash in Advance, Open Account, Collection Method and
Documentary Letter of Credit. In most cases, the Documentary Letter of Credit
in our country makes import payment. Purchase Contract contains which
payment procedure has to be applied.
Payment Modes
Open Account: Exporter ships the goods and sends transport receipt to the
importer. Importer will take delivery of the goods and makes payment by
foreign DD, MT, or TT at some specified date.